Lyft increases latest funding round by $500M to $1.5B

12/05/2017 - 12:52

Lyft just announced that it has added an additional $500 million to its most recent funding round, a $1 billion raise announced in October. The now-$1.5..

Lyft just announced that it has added an additional $500 million to its most recent funding round, a $1 billion raise announced in October. The now-$1.5 billion round includes participation from Fidelity Management & Research Company as well as the Ontario Teachers’ Pension Fund.

Lyft’s post-money valuation as of this add-on raise is now $11.5 billion, with the expanded round still led by Alphabet’s CapitalG.

2017 has been a banner year for Lyft in terms of performance, with expansion to well over 100 new markets, including Canada sometime this month. It has also more than doubled its total miles driven for rides this year, with a month yet to go before 2018.